People waiting for the opening of the world's biggest Zara store in Madrid, Spain.
BALLESTEROS/EPA/REX/Shutterstock
MADRID — Inditex plans on Friday to unveil its largest Zara location in the world on Paseo de la Castellana, a tree-lined thoroughfare in the heart of the Spanish capital’s financial district.
A general view of Zara’s biggest store in the world in Madrid, Spain. MARISCAL/EPA/REX/Shutterstock
The 65,000-square-foot store will house a full range of Zara’s women’s collections, men’s wear, children’s and accessories and increase the brand’s total domestic presence to 436 stores, said a spokesman. Spain is Zara’s principal market, he added.
Also on Friday, the brand will open a 43,000-square-foot store edging the Paris Opéra, according to published reports here.
Headquartered in Arteixo, northern Spain, Inditex closed last year with a 12 percent increase in net sales to 23.3 billion euros, or $24.8 billion, 279 new stores in 56 countries and online platforms in 43.
Zara staff applaud during the opening of the world’s biggest Zara store in Madrid, Spain. BALLESTEROS/EPA/REX/Shutterstock
As reported, the group plans to increase investments to 1.5 billion euros, or $1.59 billion, in 2017 from 1.4 billion euros, or $1.55 billion, in 2016, with a large portion directed to sustainable growth initiatives, including expanding its eco-efficient store base and strengthening its second-hand clothing collection and fiber recycling programs and research.
Inditex plans to open stores at the same rate as last year, noting that 70 percent of the openings planned for 2017 were already under contract. Among its flagship openings in the next few months are new Zara stores in Nagoya, Japan; Doha, Qatar, and Mumbai, India.
